StockMarketWire.com - Education company Pearson reported that revenue was up 10% for the nine months through September, reflecting 'strong' enrolment growth in virtual schools.

The strong enrolment growth in virtual schools in the 2020/21 school year offset flat revenue in online program management.

'In virtual schools we have seen slight enrolment growth for the 2021/22 academic year due to the continuing uncertainty around COVID-19 in the US but we expect revenue to be broadly flat in H2 due to pricing mix,' the company said.

'This mix pressure has been caused by an uneven enrolment distribution across the states with a higher rise in typically lower funded states.'

Higher education revenue was down 7% as growth in international courseware was offset by a decline in US Higher Education Courseware.

Pearson said it remains 'on track to deliver adjusted operating profit for FY21 in line with market expectations.'

VUMA published market consensus on 3 March 2021 was £377 million.




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